OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in
point-of-care and home diagnostic testing and sample collection
technologies, today announced that Carrie Eglinton Manner has been
appointed President and Chief Executive Officer, effective June 4,
2022. Ms. Eglinton Manner will also join the OraSure Board of
Directors. She succeeds Dr. Nancy Gagliano, who was appointed
interim CEO in March 2022. Dr. Gagliano will remain on the OraSure
Board.
Ms. Eglinton Manner brings more than 25 years of healthcare
leadership and transformation expertise to OraSure. She is
currently Senior Vice President, Advanced & General Diagnostics
Clinical Solutions, at Quest Diagnostics. Under her leadership,
Quest’s Advanced Diagnostics, a portfolio with over $2 billion in
revenue, accelerated its growth rate with strong profitability. She
has responsibility for bringing innovative diagnostic solutions to
market in the areas of women’s health, neurology, oncology,
cardiovascular, metabolic, endocrinology, infectious disease and
immunology testing services, as well as drug monitoring and
toxicology.
Additionally, she leads Quest’s pharmaceutical services,
AmeriPath/Dermpath and international businesses. Ms. Eglinton
Manner led Quest’s molecular genetics team in pioneering
next-generation sequencing innovation which reduced cost and
increased access for patients to precision health insights.
Prior to Quest Diagnostics, Ms. Eglinton Manner served for 20
years in a variety of leadership roles of increasing responsibility
including multiple, distinct business units with global engineering
and manufacturing responsibilities at GE Healthcare, a division of
General Electric (GE). A champion for inclusion and diversity, Ms.
Eglinton Manner served as co-chair for Quest’s African American
Employee Business Network, and prior to that, GE’s Women’s
Network.
“Carrie has a proven track record of transformative leadership,
disciplined operational execution, and driving innovation at two
industry-leading healthcare companies,” said Michael Celano,
Chairman of the Board of OraSure. “Importantly, Carrie is a
results-oriented executive who brings first-hand strategic insights
on the testing industry and services businesses. The Board is
confident that Carrie’s experience and skillset make her ideally
suited to lead OraSure as we continue to scale up manufacturing for
InteliSwab and drive growth across all of our platforms.”
“I am thrilled to be joining OraSure at such a pivotal point in
the Company’s growth story. Delivering insights to patients and
driving access to testing are increasingly critical market needs
for which OraSure is uniquely positioned to capitalize,” Ms.
Eglinton Manner said. “Furthermore, we believe there are multiple
opportunities to expand recent operational improvements, increase
market reach and enhance efficiency across the company. I look
forward to working closely with the Board and management to build
upon the Company’s foundation, improve profitability and enhance
shareholder value.”
Ms. Eglinton Manner’s appointment as CEO comes in tandem with a
decision by the OraSure Board to conclude its previously announced
review of strategic alternatives and for the Company to move
forward under her leadership. Market conditions and the
Board’s belief in the Company’s ability to further build upon
recent operational successes with Carrie’s leadership were factors
in the decision.
Mr. Celano continued, “After completing a thorough review of
strategic alternatives with the assistance of independent financial
and legal advisors, the Board believes the best path to create
value is with improved execution and a renewed focus on driving
profitable growth as a market leader in the areas of simple,
reliable, point-of-care and home tests as well as innovative and
easy-to-use sample collection technologies. We are excited to begin
this next chapter in our Company’s journey and want to thank our
executive leadership team and all of our colleagues for their
continued focus and dedication to our products and serving the
needs of our customers around the world.”
About Carrie Eglinton Manner
Carrie Eglinton Manner currently serves as Quest Diagnostics’
Senior Vice President of Advanced & General Diagnostics
Clinical Solutions. This position expanded on her previous role at
SVP, Advanced Diagnostics, in which she served from January 2017 to
March 2022, and in which she was responsible for more than $2
billion in revenue. Prior to joining Quest, she served for over two
decades at GE Healthcare, a division of General Electric, including
serving as the President and Chief Executive Officer of Detection
and Guidance Solutions, President and Chief Executive of Surgery /
Orthopedic Equipment Company (OEC), President & Chief Executive
Officer of Clarient Diagnostic Services, and President & Chief
Executive of Maternal Infant Care / OHMEDA Medical, Inc. Ms.
Eglinton Manner holds a Bachelor of Science in Mechanical
Engineering from the University of Notre Dame.
About OraSure
TechnologiesOraSure Technologies empowers the global
community to improve health and wellness by providing access to
accurate, essential information. OraSure, together with its
wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis,
provides its customers with end-to-end solutions that encompass
tools, services and diagnostics. The OraSure family of companies is
a leader in the development, manufacture, and distribution of rapid
diagnostic tests, sample collection and stabilization devices, and
molecular services solutions designed to discover and detect
critical medical conditions. OraSure’s portfolio of products is
sold globally to clinical laboratories, hospitals, physician’s
offices, clinics, public health and community-based organizations,
research institutions, government agencies, pharma, commercial
entities and direct to consumers. For more information on OraSure
Technologies, please visit www.orasure.com.
Important InformationThis press release
contains certain forward-looking statements, including with respect
to the Company's products, the company's ability to build on recent
operational successes, growth and growth strategy, operational
product development activities, growth prospects and other matters.
Forward-looking statements are not guarantees of future performance
or results. Known and unknown factors that could cause actual
performance or results to be materially different from those
expressed or implied in these statements include, but are not
limited to: our ability to sustain manufacturing improvements; our
ability to satisfy customer demand; our ability to successfully
scale up manufacturing and build upon recent operational successes;
ability to market and sell products, whether through our internal,
direct sales force or third parties; impact of significant customer
concentration in the genomics business; failure of distributors or
other customers to meet purchase forecasts, historic purchase
levels or minimum purchase requirements for our products; ability
to manufacture products in accordance with applicable
specifications, performance standards and quality requirements;
ability to obtain, and timing and cost of obtaining, necessary
regulatory approvals for new products or new indications or
applications for existing products; ability to comply with
applicable regulatory requirements; ability to effectively resolve
warning letters, audit observations and other findings or comments
from the U.S. Food and Drug Administration ("FDA") or other
regulators; the impact of the novel coronavirus ("COVID-19")
pandemic on our business, supply chain and labor force, and ability
to successfully develop new products, validate the expanded use of
existing collector products, receive necessary regulatory approvals
and authorizations and commercialize such products for COVID-19
testing; changes in relationships, including disputes or
disagreements, with strategic partners or other parties and
reliance on strategic partners for the performance of critical
activities under collaborative arrangements; ability to meet
increased demand for the Company's products; impact of replacing
distributors; inventory levels at distributors and other customers;
our ability to achieve our financial and strategic objectives and
continue to increase our revenues, including the ability to expand
international sales; impact of competitors, competing products and
technology changes; reduction or deferral of public funding
available to customers; competition from new or better technology
or lower cost products; ability to develop, commercialize and
market new products; market acceptance of oral fluid or urine
testing, collection or other products; market acceptance and uptake
of microbiome informatics, microbial genetics technology and
related analytics services; changes in market acceptance of
products based on product performance or other factors, including
changes in testing guidelines, algorithms or other recommendations
by the Centers for Disease Control and Prevention ("CDC") or other
agencies; ability to fund research and development and other
products and operations; ability to obtain and maintain new or
existing product distribution channels; reliance on sole supply
sources for critical products and components; availability of
related products produced by third parties or products required for
use of our products; impact of contracting with the U.S.
government; impact of negative economic conditions; ability to
maintain sustained profitability; ability to utilize net operating
loss carry forwards or other deferred tax assets; volatility of the
Company's stock price; uncertainty relating to patent protection
and potential patent infringement claims; uncertainty and costs of
litigation relating to patents and other intellectual property;
availability of licenses to patents or other technology; ability to
enter into international manufacturing agreements; obstacles to
international marketing and manufacturing of products; ability to
sell products internationally, including the impact of changes in
international funding sources and testing algorithms; adverse
movements in foreign currency exchange rates; loss or impairment of
sources of capital; ability to attract and retain qualified
personnel; exposure to product liability and other types of
litigation; changes in international, federal or state laws and
regulations; customer consolidations and inventory practices;
equipment failures and ability to obtain needed raw materials and
components; the impact of terrorist attacks, civil unrest and war;
and general political, business and economic conditions. These and
other factors that could affect our results are discussed more
fully in our SEC filings, including our registration statements,
Annual Report on Form 10-K for the year ended December 31, 2021,
Quarterly Reports on Form 10-Q, and other filings with the SEC.
Although forward-looking statements help to provide information
about future prospects, readers should keep in mind that
forward-looking statements may not be reliable. Readers are
cautioned not to place undue reliance on the forward-looking
statements. The forward-looking statements are made as of the date
of this press release and OraSure Technologies undertakes no duty
to update these statements.
Investor
Contact: Scott Gleason SVP Investor Relations & Corporate
Communications 484-425-0588 sgleason@orasure.com |
Media
Contact:Amy KochSr. Mgr. Corporate
Communications484-523-1815media@orasure.com |
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